President Trump announced Tuesday that the US government will soon begin selling $5 million “gold cards” that convey both green-card residency status and a path to American citizenship to foreigners — predicting 1 million cards will be sold and saying the initiative could quickly pay down the national debt.
“It’s somewhat like a green card, but at a higher level of sophistication. It’s a road to citizenship for people, and essentially people of wealth or people of great talent,” Trump said in the Oval Office.
“We’re going to be putting a price on that card of about $5 million and that’s going to give you green card privileges-plus,” the president added as he rolled out the plan to a group of journalists.
“They’ll be wealthy and they’ll be successful, and they’ll be spending a lot of money and paying a lot of taxes and employing a lot of people.”
Trump claimed that the initiative had been approved by administration lawyers and will launch in roughly “two weeks.”
Commerce Secretary Howard Lutnick, appearing alongside Trump, said the program could be a more successful version of the EB-5 visa initiative, established by legislation in 1990 which granted certain investors a green card if they meet certain criteria.
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